Strategy and Game Theory
Practice Exercises with Answers
Authors: Felix Munoz-Garcia, Daniel Toro-Gonzalez
Provides over ninety worked-out exercises on game theory with detailed step-by-step explanations
Emphasizes the economic principles behind each exercise and avoids unnecessary complex notation
Helps undergraduate and master’s level studentsunderstandequilibrium behavior in strategic settings
Ranks exercises according to difficulty for self-guided study
This textbook presents worked-out exercises on game theory with detailed step-by-step explanations. While most textbooks on game theory focus on theoretical results, this book focuses on providing practical examples in which students can learn to systematically apply theoretical solution concepts to different fields of economics and business. The text initially presents games that are required in most courses at the undergraduate level and gradually advances to more challenging games appropriate for masters level courses. The first six chapters cover complete-information games, separately analyzing simultaneous-move and sequential-move games, with applications in industrial economics, law, and regulation. Subsequent chapters dedicate special attention to incomplete information games, such as signaling games, cheap talk games, and equilibrium refinements, emphasizing common steps and including graphical illustrations to focus students’ attention on the most relevant payoff comparisons at each point of the analysis.In addition, exercises are ranked according to their difficulty, with a letter (A-C) next to the exercise number. This allows students to pace their studies and instructors to structure their classes accordingly. By providing detailed worked-out examples, this text gives students at various levels the tools they need to apply the tenets of game theory in many fields of business and economics. This text is appropriate for introductory-to-intermediate courses in game theory at the upper undergraduate and master’s level.
Table of contents
Front Matter
Pages i-xii
Dominance Solvable Games
Pages 1-23
Pure Strategy Nash Equilibrium and Simultaneous-Move Games with Complete Information
Pages 25-60
Mixed Strategies, Strictly Competitive Games, and Correlated Equilibria
Pages 61-106
Sequential-Move Games with Complete Information
Pages 107-143
Applications to Industrial Organization
Pages 145-181
Repeated Games and Correlated Equilibria
Pages 183-215
Simultaneous-Move Games with Incomplete Information
Pages 217-236
Auctions
Pages 237-255
Perfect Bayesian Equilibrium and Signaling Games
Pages 257-302
More Advanced Signaling Games
Pages 303-341
Back Matter
Pages 343-345
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